Former Deutsche Bank Trader Pleads Guilty in Libor Manipulation Probe

Authorities say German bank slowed probe by not cooperating

A former Deutsche Bank senior trader pleaded guilty to conspiring to rig a key lending benchmark, the latest admission in a long-running investigation.

Michael Ross Curtler, 43 years old, on Thursday pleaded guilty to a felony charge of conspiring to manipulate the London interbank offered rate, or Libor, which underpins interest rates in trillions of dollars of financial contracts, from corporate debt to home mortgages.